The Growths and Challenges of Indigenous Companies in Lagos (A study of Emzor Pharmaceutical Industries Limited)

James Olufemi Ademeso, Volume 3 Issue 1, July 2022 Pages 103-111, Published: 2022-07-21

Abstract

This study dwelt on the growth and challenges of indigenous enterprises in Lagos state, with a special emphasis on Emzor Pharmaceutical Industries. The study employed survey research methodology. The study's population comprises of 523 employees of Emzor pharmaceutical industries limited in Lagos, Nigeria. Using Taro Yamane's sample size calculator, a sample of 150 participants was determined. The tool for data collection was a structured questionnaire that was validated using the content validity method and expert opinion, and whose reliability was confirmed using the Cronbach alpha test. Using descriptive and inferential statistical techniques, the acquired data was evaluated. Empirical analysis of result findings showed that inadequate capital and personnel have a negative effect on the growth of indigenous companies in Lagos due to the direct influence of technology, as there is no sufficient evidence that manpower significantly influences the growth of indigenous companies (p-value > 0.05). As a result of the research, it is suggested that the Lagos state government expand its efforts to collaborate with Power Holding Businesses in Nigeria and its affiliated distribution companies to provide steady energy to industry, hence lowering their overhead expenses